Ashok Leyland will offer a mix of JanBus, midi-buses and ultra low entry (ULE) buses as a part of this order.
Commercial vehicles manufacturer Ashok Leyland on Tuesday bagged orders for 4,000 buses worth Rs 1,500 crore from State Transport Undertakings (STUs).
The company, flagship of the Hinduja Group, is the largest recipient of orders for buses under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM)-II scheme. A total of 22 STUs order India including Calcutta, Bangalore, Andhra Pradesh , Jaipur and Pune have placed large order on the company.
Ashok Leyland will offer a mix of JanBus, midi-buses and ultra low entry (ULE) buses as a part of this order, the company said in a filing to BSE.
Speaking about the order, managing director Vinod K Dasari said that the company has received international bus orders as well. "JanBus is the world's first front-engine, single step entry, full-flat floor bus. It will contribute over 2000 buses to JNNURM-II," the filing added.
Meanwhile, in the month gone by, Ashok Leyland reported 17 percent sales growth . It sold 8,331 units in August, increased from 7,139 units in a year-ago period. The month-on-month growth in sales was 6 percent. Light commercial vehicle sales increased by 14 percent to 2,501 units from 2,111 units year-on-year. Medium and heavy commercial vehicle sales grew by 18 percent to 5,830 units.
Ashok Leyland is India's second largest commercial vehicle maker.
At 11:00 hrs shares of Ashok Leyland were quoting at Rs 40.90, up Rs 2.30, or 5.96 percent.
Ashok Leyland stock price
On September 09, 2014, at 11:13 hrs Ashok Leyland was quoting at Rs 41.00, up Rs 2.40, or 6.22 percent. The 52-week high of the share was Rs 41.20 and the 52-week low was Rs 13.05.
The company's trailing 12-month (TTM) EPS was at Rs 0.43 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 95.35. The latest book value of the company is Rs 15.69 per share. At current value, the price-to-book value of the company is 2.61.
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